Charles Hoskinson, founder of Cardano [ADA], took to Twitter to respond to an allegation made around Cardano’s ongoing projects. He tweeted that despite all the progress the blockchain made, some individuals failed to see the same.
The co-founder’s tweet was in response to a netizen speculating the behaviour of cryptocurrency enterprises around promising and under delivering. Or even worse, never delivering so as to keep people glued for possible future results.
What is extraordinary to me is that the people who tweet this stuff actually believe it regardless of the evidence given. It's basically like religious beliefs. Every year, we have moved mountains together, but he can't see any of it. I wonder what causes it https://t.co/WZRCRNMvJb pic.twitter.com/FdYwZGb1S6
— Charles Hoskinson (@IOHK_Charles) October 1, 2022
Nothing new to offer?
In addition to the matter at hand, Hoskinson stated that the presence of FUD ghost chains had been noted ahead of its Vasil upgrade. A report released in August also stated that there was a significant FUD around Cardano.
Furthermore, a prominent crypto influencer on TikTok had claimed that for a project that had a market cap as high as Cardano, the blockchin did not have much to show for it. Hoskinson was quick to counter him and stated that the chain had over 1,000 projects with a community of over three million users. But speculation regarding the scalability of the project still remained.
However, the value of ADA was on a downtrend at press time and exchanged hands at $0.422.
Can we move on now? Maybe not…
Ripple [XRP] has been involved with the U.S. Securities and Exchange Commission (SEC) for the longest time. Despite chances of Ripple emerging as the winner, Ripple investors went through significant distress due to the happenings of the lawsuit.
Furthermore, not just Cardano and Ripple, but other networks such as Solana [SOL] have also been a cause of distress. Solana , once again crashed this weekend due to which transactions on the networks couldn’t go through.
This won’t be the first time the network experienced outages as Solana did witness the same in January, April, May and June. For a project with the title “Ethereum killer,” Solana can’t be considered as one that stood true to its name.
As the time get tougher…
There are a number of cryptocurrency projects that had promised big but failed to deliver noteworthy results. Some due to their own limitations whereas some due to overseeing regulatory authorities. Additionally, with the SEC tightening its control, the future of cryptocurrencies may be filled with some uncertainties.
Additionally, the aforementioned speculations may still be rife if many projects only offer hope and no profits to offer.